KLP Kapitalforvaltning AS Makes New Investment in Air Products and Chemicals, Inc. (NYSE:APD)

KLP Kapitalforvaltning AS purchased a new stake in shares of Air Products and Chemicals, Inc. (NYSE:APD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,353 shares of the basic materials company’s stock, valued at approximately $21,565,000.

Several other hedge funds have also made changes to their positions in APD. Raymond James Financial Inc. bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $885,371,000. Sachem Head Capital Management LP bought a new stake in shares of Air Products and Chemicals in the third quarter valued at about $163,013,000. TOMS Capital Investment Management LP bought a new stake in shares of Air Products and Chemicals in the third quarter valued at about $159,886,000. Proficio Capital Partners LLC bought a new stake in shares of Air Products and Chemicals in the fourth quarter valued at about $71,307,000. Finally, Bank of Montreal Can lifted its stake in shares of Air Products and Chemicals by 25.2% in the third quarter. Bank of Montreal Can now owns 1,165,733 shares of the basic materials company’s stock valued at $350,139,000 after buying an additional 234,322 shares during the period. Institutional investors own 81.66% of the company’s stock.

Insider Activity at Air Products and Chemicals

In other Air Products and Chemicals news, insider Francesco Maione sold 2,016 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $306.00, for a total value of $616,896.00. Following the transaction, the insider now directly owns 3,834 shares of the company’s stock, valued at approximately $1,173,204. This trade represents a 34.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sean D. Major sold 4,500 shares of the firm’s stock in a transaction that occurred on Friday, February 7th. The shares were sold at an average price of $315.46, for a total transaction of $1,419,570.00. Following the completion of the transaction, the vice president now directly owns 14,273 shares in the company, valued at approximately $4,502,560.58. The trade was a 23.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 15,500 shares of company stock valued at $4,842,604 over the last quarter. Corporate insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on APD shares. Barclays upgraded shares of Air Products and Chemicals from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $315.00 to $365.00 in a research note on Friday, January 24th. Wells Fargo & Company increased their price target on shares of Air Products and Chemicals from $350.00 to $365.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. BNP Paribas raised shares of Air Products and Chemicals to a “strong-buy” rating in a research report on Tuesday, February 11th. Bank of America lowered shares of Air Products and Chemicals from a “buy” rating to a “neutral” rating and set a $350.00 price target for the company. in a research report on Monday, January 27th. Finally, Sanford C. Bernstein raised shares of Air Products and Chemicals from a “market perform” rating to an “outperform” rating and set a $375.00 price target for the company in a research report on Friday, January 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $342.65.

Air Products and Chemicals Stock Performance

Shares of Air Products and Chemicals stock opened at $291.35 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.11 and a quick ratio of 0.96. The firm has a market cap of $64.82 billion, a P/E ratio of 16.92, a P/E/G ratio of 3.07 and a beta of 0.85. The firm has a 50 day simple moving average of $313.19 and a 200 day simple moving average of $308.45. Air Products and Chemicals, Inc. has a fifty-two week low of $227.53 and a fifty-two week high of $341.14.

Air Products and Chemicals (NYSE:APD) last issued its quarterly earnings results on Thursday, February 6th. The basic materials company reported $2.86 earnings per share for the quarter, missing analysts’ consensus estimates of $3.13 by ($0.27). Air Products and Chemicals had a net margin of 31.88% and a return on equity of 15.78%. Sell-side analysts predict that Air Products and Chemicals, Inc. will post 12.69 earnings per share for the current fiscal year.

Air Products and Chemicals Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 12th. Investors of record on Tuesday, April 1st will be issued a $1.79 dividend. The ex-dividend date of this dividend is Tuesday, April 1st. This represents a $7.16 dividend on an annualized basis and a dividend yield of 2.46%. This is a positive change from Air Products and Chemicals’s previous quarterly dividend of $1.77. Air Products and Chemicals’s dividend payout ratio (DPR) is currently 41.58%.

Air Products and Chemicals Profile

Air Products and Chemicals, Inc provides atmospheric gases, process and specialty gases, equipment, and related services in the Americas, Asia, Europe, the Middle East, India, and internationally. The company produces atmospheric gases, including oxygen, nitrogen, and argon; process gases, such as hydrogen, helium, carbon dioxide, carbon monoxide, and syngas; and specialty gases for customers in various industries, including refining, chemical, manufacturing, electronics, energy production, medical, food, and metals.